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BluPine Energy Secures Financing for Wind Project in Gujarat

BluPine Energy has secured a financing of Rs 1,260 crore from Standard Chartered Bank and TATA Capital for its wind project in Gujarat.

 

After completion, the 198 MW plant is expected to generate about 65 GWh of wind energy annually, and would offset about 6 lakh tonne of CO2 emissions. The electricity generated from this plant will be supplied to Gujarat Urja Vikas Nigam (GUVNL) under a power purchase agreement (PPA) for 25 years from the scheduled commercial operation date.

 

With the addition of this project, its cumulative solar and wind energy capacity in the state will scale up to 750 MW, across seven projects under GUVNL. Moreover, the overall renewable energy (RE) capacity will reach approx. 2.4 GW, of which 730 MW is currently operational.

 

Gurugram-based BluPine Energy is an RE services firm.

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